FA chiefs have opened up the sale of Wembley to the highest bidder — and hope to get a £1billion deal.

US billionaire Shahid Khan has made an offer worth £600million, but the Football Association have had strong interest from three other potential buyers.

Khan remains in pole position but the FA are ready to open up the bidding process this autumn, which may also lead to the Fulham owner upping his price towards £1bn.

The FA are making it clear privately that they do not have to sell, they are not desperate to sell - but are desperate to plough more money into grass roots football.

General view of Wembley way (Image: Getty Images Europe)

Shahid Khan is the owner of Fulham football club (Image: REUTERS)

That is why Khan’s offer is appealing and, because of his interest in football, it is another reason why he fits the FA’s criteria for potential future owners of Wembley.

Khan also owns the NFL team Jacksonville Jaguars and that could open up to their games being played at Wembley which could also see England go “on the road” for autumn fixtures.

They are not interested in selling to a football club or an owner who wants to use the stadium all-year-round and that leaves Khan in pole position.

Southgate and Martin Glenn (Image: Getty Images Europe)

But the interest since Khan’s offer was made public has convinced the FA that they could get a better price than the £600m on the table which is boosted by them being able to keep the Club Wembley business which is valued at £300m.

The FA’s advisers, City investment bank NM Rothschild, have been told to make it clear that they are now open to offers.

But Khan now knows he faces strong competition for Wembley - and that is likely to drive up the price with the FA confident that will be good news for English football.

A spokesman for Mr Khan declined to comment, and the FA would not comment.